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论文编号：	4393
作者编号：	2120102236
上传时间：	2012/6/7 22:34:04
中文题目：	真实活动盈余管理对企业未来业绩的影响
英文题目：	Real activities earnings management on the company''''s future performance
指导老师：	周晓苏
中文关键字：	真实活动;盈余管理;业绩
英文关键字：	Real activities; Earnings management; Performance
中文摘要：	盈余管理一直以来都是会计学界较热门的课题，而盈余管理在企业中也发挥着非常重要的作用。在此之前，理论界对应计项目盈余管理给与了足够的关注，并取得了大量的研究成果，但是关于真实活动盈余管理的研究成果则相对较少，尤其是对真实活动盈余管理的经济后果这一问题，实证检验的文献较少。 本文旨在探讨真实活动盈余管理对企业未来业绩的影响。根据我国A股沪深两市上市公司07,08年财务报告数据，识别出进行以下真实活动盈余管理的公司，包括：削减酌量性费用以增加报告盈余，规模化生产以降低产品成本从而增加盈余以及通过降低产品售价，改变信用政策以增加销量，进而增加销售收入的盈余操控行为。在此基础上，运用模型探讨真实活动盈余管理与恰好达到盈余临界点水平（盈余恰好为0或盈余恰好与去年持平）的企业之间是否存在相关关系，得出真实活动盈余管理与恰好达到盈余临界点水平的企业之间存在正相关关系的结论。接下来本文探讨以达到盈余临界点为目的进行真实活动盈余管理是否会对企业未来业绩产生影响以及产生怎样的影响，通过实证检验，得出以下结论：管理层采取不同的真实活动盈余管理方式，对企业未来业绩的影响也不尽相同。对于费用操控而言，采取缩减酌量性费用的方式以达到盈余临界点的公司，此后的一年的业绩不会受到明显的影响，但一年之后的业绩会受到明显的不利影响。而对采取于生产操控和销售操控的方式以达到盈余临界点的公司而言，未来的业绩不会受到明显的影响。
英文摘要：	Earnings management has always been more popular accounting academic subject, and earnings management in the enterprise also played a very important role. Prior to this, the theoretical circles correspond to the accruals earnings management to give enough attention, and made a lot of research, but research on the real activities earnings management is relatively small, especially the economic consequences of the real activities earnings management this problem, the empirical test of literature is less. This article aims to explore the real activities earnings management on the company's future performance. Financial reporting data according to China's A shares in Shanghai and Shenzhen listed companies in 2007 and 2008, identified the following real activities earnings management company, including: reduction of discretionary expenses in order to increase reported earnings, large-scale production to reduce product costs thereby increasing earnings and to increase sales by lowering prices, to change the credit policy, thus increasing the sales revenue of earnings manipulation. On this basis, the use of the model of the real activities earnings management and just to reach the earnings level of the critical point (surplus exactly whether there is a correlation between the 0 or surplus exactly flat with last year), enterprises, and come to the real activities earnings management just to reach the surplus between the conclusion of a positive correlation between the critical point level of the enterprise. Then the author explore in order to achieve the the surpluses critical point for the purpose of real activities earnings management would future performance impact, and what impact, through empirical testing, the following conclusions: Management to take the real activities earnings management, impact on the future performance of the enterprise is not the same. For the cost of manipulation to take to reduce discretionary costs in order to achieve the surplus the critical point of the company next year's performance will not be significantly affected, but the results after one year will be significantly adversely affected. Taken in handling and sales manipulation to reach the critical point of the surplus companies, the future results will not be affected significantly.
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